Is FuelCell Energy Stock a Buy?
FuelCell Energy (NASDAQ: FCEL) stock is 60% off its high price this year. Interestingly, the company's revenue, which was on a downward trend for six years, rose for the year 2020.
Despite the recent fall, FuelCell Energy stock is up 568% in a year. Fuel cell stocks have seen some correction recently after their astronomical rise in 2020 and early this year. Let's take a look at FuelCell Energy's performance and prospects to see if it's a buy right now.
FuelCell Energy offers distributed power generation solutions through long-term power purchase and service agreements. The company uses carbonate fuel cell technology, which allows use of multiple fuels including natural gas and biogas. The fuel cell generates electricity via an electrochemical process and does not involve burning of fuel. That's why it produces less carbon and other emissions. Unlike PEM (proton-exchange membrane) fuel cells, carbonate fuel cells do not require expensive catalyst for the electrochemical process.
Source Fool.com
